Blue Zone Wealth Advisors LLC Grows Stake in Constellation Brands Inc $STZ

Blue Zone Wealth Advisors LLC boosted its position in Constellation Brands Inc (NYSE:STZ) by 6.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,393 shares of the company’s stock after purchasing an additional 1,314 shares during the period. Blue Zone Wealth Advisors LLC’s holdings in Constellation Brands were worth $3,806,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. increased its stake in Constellation Brands by 25.6% in the 2nd quarter. Blue Trust Inc. now owns 1,194 shares of the company’s stock valued at $194,000 after purchasing an additional 243 shares in the last quarter. Coerente Capital Management boosted its stake in shares of Constellation Brands by 3.4% during the second quarter. Coerente Capital Management now owns 111,011 shares of the company’s stock valued at $18,059,000 after acquiring an additional 3,611 shares during the last quarter. Callan Family Office LLC acquired a new stake in shares of Constellation Brands during the second quarter valued at $435,000. Tectonic Advisors LLC boosted its stake in shares of Constellation Brands by 27.4% during the second quarter. Tectonic Advisors LLC now owns 5,632 shares of the company’s stock valued at $916,000 after acquiring an additional 1,210 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in shares of Constellation Brands by 33.0% during the second quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock valued at $1,081,000 after acquiring an additional 1,650 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

STZ has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on Constellation Brands from $173.00 to $153.00 and set a “neutral” rating on the stock in a research note on Wednesday. Cowen reaffirmed a “hold” rating on shares of Constellation Brands in a research note on Monday, July 7th. Morgan Stanley decreased their price objective on Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Roth Capital reaffirmed a “buy” rating and set a $209.00 price objective (down previously from $239.00) on shares of Constellation Brands in a research note on Wednesday, September 3rd. Finally, Barclays lowered their price objective on Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating for the company in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Hold” and an average target price of $186.44.

Insiders Place Their Bets

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the business’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the transaction, the executive vice president owned 9,438 shares in the company, valued at $1,595,022. The trade was a 8.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 12.45% of the company’s stock.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $141.42 on Friday. Constellation Brands Inc has a twelve month low of $131.20 and a twelve month high of $247.63. The stock has a market capitalization of $24.93 billion, a P/E ratio of 20.65, a PEG ratio of 0.43 and a beta of 0.66. The company has a current ratio of 1.08, a quick ratio of 0.68 and a debt-to-equity ratio of 1.26. The business’s fifty day moving average price is $150.78 and its 200 day moving average price is $168.18.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share for the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%.The firm had revenue of $2.32 billion for the quarter. As a group, research analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be issued a $1.02 dividend. The ex-dividend date is Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. Constellation Brands’s dividend payout ratio (DPR) is presently 59.56%.

Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.